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Summary of VFA Online Course

Lesson 1:

  • Why so many new ventures fail

  • What successful ventures have in common

  • The first four questions you should start working on right away

  • How to evaluate whether this venture idea is right for you


Lesson 2:

  • What a business model entails and how these models are used to develop and validate new venture concepts

  • Each of the nine components of a business model

  • How to build the first draft business model for your venture idea

  • Defining your venture’s product and services and how they provide value to potential customers


Lesson 3:

  • To identify the potential customers for your products and services

  • To define customer segments and select which segments you will target first during early stage of your new venture

  • To create a customer profile highlighting key and characteristics and behaviors

  • The goals of the customer discovery process

  • To test and validate whether your potential solution fits these needs and requirements, the product-market fit

  • How to interview members of your target customers in order to make sure that you understand their problem correctly

  • To evaluate whether these are solutions that the customer uses today to solve their problem

  • To access what needs and requirements customers have for a better solution


Lesson 4:

  • What role market research plays in new venture development

  • How to estimate the size of your potential market based on the selected customer segments

  • How to access the competitive landscape within your new venture’s industry

  • To identify your direct and indirect competitors and evaluate their business models

  • To identify both your internal strengths and challenges as well as those of your competitors


Lesson 5:

  • What a minimal viable product (MVP) is and how it supports successful product entry into the marketplace

  • Steps required to develop you MVP

  • The importance of having customers involved in early product development

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